Disclaimer:
Embracing the world of alt season, an exhilarating phase characterized by heightened market activity and immense potential, is a priority for astute cryptocurrency investors.
Altcoins (alternative coins), is a term used to describe all cryptocurrencies other than Bitcoin (BTC). During the alt season, these cryptocurrencies have the capacity to outperform traditional stalwarts such as BTC and Ethereum (ETH).
Having said that, staying abreast of the latest market trends and data is indispensable when it comes to identifying the crypto assets poised for success.
Picks for you
In that light, Finbold has handpicked 3 specific altcoins that could do particularly well during this period, and deliver substantial returns to investors.
Cardano (ADA)
ADA serves as the native cryptocurrency of Cardano, an early adopter of the proof-of-stake consensus model.
With a core focus on security, scalability, and sustainability, Cardano aims to foster a more inclusive and decentralized financial ecosystem by offering a robust platform for the development of smart contracts and decentralized applications (dApps).
As of July 3, ADA is trading at $0.29, reflecting a 1.6% increase over the past 24 hours.
While ADA’s all-time high of $3.10, achieved on September 2, 2021, currently exceeds its present value by 10-fold, the potential for further price growth remains significant.
Notably, the price trajectories of ADA, and other altcoins, are closely intertwined with Bitcoin’s movements and the broader market. Given that some market projections suggest that BTC may reach $100,000 after its next halving, ADA could potentially surge well beyond its previous peak.
Solana (SOL)
Solana (SOL) is a high-performance blockchain platform designed for dApps and decentralized finance (DeFi). It stands out for its impressive scalability, boasting the ability to process thousands of transactions per second with low fees.
At the time of publication, SOL was changing hands at $19.38, rising 1.87% on the day.
At its current price, Solana’s price is trading at a substantial discount, more than 10x lower than its record high of $259.52 it reached in November 2021.
Should Bitcoin reach its projected price target of $100,000 or beyond, it could propel SOL to new milestones and potentially deliver substantial returns for investors.
Pepe (PEPE)
Pepe (PEPE) is a meme coin that registered one of the most staggering price increases on record.
After emerging as a clear winner in the meme coin frenzy that took place earlier this year, PEPE is now the third-biggest meme coin by market cap, behind Dogecoin (DOGE) and Shiba Inu (SHIB).
At press time, PEPE’s price stood at $0.000001784, up 16% in the past 24 hours.
The meme coin experienced a significant decline from its peak value of $0.000004408, highlighting its potential for growth in a robust alt season.
PEPE’s market cap currently stands at around $700 million. If PEPE were to surpass DOGE’s all-time high market cap of $89.08 billion, it would represent an increase of a staggering 12614%.
Final Words
In conclusion, alt season presents an exciting opportunity for cryptocurrency investors to explore the potential of altcoins that may outperform traditional cryptocurrencies.
While ADA and SOL exhibit strong fundamentals and growth prospects for their respective blockchain networks and developments, meme coins like PEPE have also gained attention in the market among traders looking for pumps.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
